Astana International Financial Center has stepped into a new stage of development

Astana International Financial Center has stepped into a new stage of development

Astana International Financial Center has stepped into a new stage of development. The opening of trading in the stock exchange has enabled national companies to place their shares. A uranium mining enterprise was the first to place their securities at the financial centre. (Both Kazakh and foreign investors showed interest in it). According to the National Welfare Fund, 49 foreign and 16 domestic legal entities took part in the auction within 24 hours.

Other market participants will also undergo the IPO process. The AIFC will play a major role in it.

KAIRAT KELIMBETOV, AIFC MANAGER:

 - Our exchange serves as a starting platform for stock trading. We expect that the site will be a pilot platform as Baikonur is for the space industry. All new innovative ideas of the financial industry will be born here.

TIM BENNETT, CHAIRPERSON, ASTANA INTERNATIONAL EXCHANGE:

 - Is a start day joining its peers on the global capital markets, showing that it can become the best of the best-improving transparency for investors and access to capital business growth.

The IPO of national companies will increase their attractiveness. For example, demand for shares of the uranium mining company has grown on the very first day of listing. Payments worth US$45 million have been made. In the near future, the amount may increase to US$450 million. These funds will be directed to the national wealth fund.

GALYMZHAN PIRMATOV, CHAIRPERSON, URANIUM MINING COMPANY:

 - Thanks to the work of a multi-breed team and our foreign partners, the company went through an unprecedented transformation and has become the top uranium production company in the world.  Among our companies are Kazakh investors and leading international investment funds.

88 companies submitted their registration in the Astana International Financial Center. AIFC manager Kairat Kelimbetov forecasts that the registration number will increase by six times by 2020. In four months, the AIFC was ranked 61 in the world list of financial centres. It will be top 50 in the next two years. The successful work of the centre gives Astana the right to be called a financial capital. Experts believe that the Astana International Center has a chance of becoming the main financial hub in the Central Asian region.